The survivors stated that the accident in engineering had been responsible for the destruction of the Pegasus, and made no mention of the cloak. The Judge Advocate General's inquiry into the incident concluded that the surviving officers had not been entirely truthful in their recounting of the events, and suggested a further investigation. The follow-up investigation never took place, and the inquiry report was quietly buried by Starfleet Intelligence.

In 2370, the RomulanwarbirdIRW Terix discovered a piece of wreckage from the Pegasus in the Devolin system. Pressman, now an admiral, dispatched the USS Enterprise-D to recover the vessel first, aiming to reach the cloaking device before the Romulans discovered the Federation's duplicity. The Enterprise entered the asteroid and found the ship, which was partially phased into solid rock. The illegal events that happened aboard were made public, and Pressman, among others, were court-martialed. The ship itself was not recovered. (TNG: "The Pegasus", ENT: "These Are the Voyages...")

Rick Sternbach's original sketch (titled "The Pegasus" Ship Concept Semi-ORIGINAL Sketch) was auctioned off on eBay on December 1, 2009. The relevant part of its description was reproduced below:

This was an 11" × 17" semi-original pen and ink and pasteup drawing for a concept for making the U.S.S. Pegasus out of Enterprise-C physical model parts, instead of re-using the model of the U.S.S. Oberth science ship. Drawing is signed in the lower right.[2]

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